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The Returns to Education: Microeconomics [PDF]
Journal of Economic Surveys, 2003 In this paper we focus on education as a private decision to invest in “human capital” and the estimation of the rate of return to that private investment. While the literature is replete with studies that estimate the rate of return using regression methods where the estimated return is obtained as the coefficient on a years of education variable in a
Harmon, C., Oosterbeek, H., Walker, I.
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2019
In this chapter, we will present the key elements of a Post Keynesian approach to microeconomics. Most of the time, microeconomics doesn’t constitute a core issue in Post keynesian theory, and still remain quite underdeveloped as compared to mainstream microeconomics.
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In this chapter, we will present the key elements of a Post Keynesian approach to microeconomics. Most of the time, microeconomics doesn’t constitute a core issue in Post keynesian theory, and still remain quite underdeveloped as compared to mainstream microeconomics.
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The Bell Journal of Economics and Management Science, 1971
This paper is a survey of recent developments in probabilistic microeconomics. While research on the foundations of utility theory is not reviewed, a general Von Neumann-Morgenstern model of decision-making under uncertainty is presented. Alternative measures of risk aversion are examined within the context of decision-making by both competitive and ...
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This paper is a survey of recent developments in probabilistic microeconomics. While research on the foundations of utility theory is not reviewed, a general Von Neumann-Morgenstern model of decision-making under uncertainty is presented. Alternative measures of risk aversion are examined within the context of decision-making by both competitive and ...
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The Microeconomics of Product Innovation
2018The prime objective of this book is the use microeconomic analysis to guide and provide insight into the generation and adoption of new products. Taking an approach that uses minimal formal mathematics, the volume initially addresses questions of definitions, sources, and extent of product innovation, differentiating between goods and services; hard ...
Stoneman Paul +2 more
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Symposium on Macro and Microeconomics: Microeconomics and Macroeconomics
1966Publisher Summary The essential difference between microeconomics and macroeconomics is in the nature of the abstractions made in the two approaches to compare the complexities of reality. In microeconomics, the attention is focused on a part of the economic system. It is recognized that what happens in a part of the system can affect the rest of the
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Macroeconomics: Relations with Microeconomics
1987The lack of clear connection between macroeconomics and microeconomics has long been a source of discontent among economists. Arrow (1967) called it a ‘major scandal’ that neoclassical price theory cannot account for such macroeconomic phenomena as unemployment.
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The Microeconomics of Schooling
Review of Research in Education, 1981This essay is more an attempt to preview than to review a relatively new field we call the Microeconomics of Schooling. Researchers have been working in this area for some time, though like Moliere's character who was so surprised to find he had been speaking prose all his life, they may not know it.
Daniel H. Saks, Byron W. Brown
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2015
No concept figures so prominently in economic theory as does that of voluntary exchange. The ceremony is old and it is familiar. Property rights are well defined. The lesser-valued utility is swapped for the higher-valued satisfaction. Preferences are equal but opposite.
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No concept figures so prominently in economic theory as does that of voluntary exchange. The ceremony is old and it is familiar. Property rights are well defined. The lesser-valued utility is swapped for the higher-valued satisfaction. Preferences are equal but opposite.
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2006
Classical microeconomics is intended to explain how a price system is able to coordinate the economic agents. But even if it can be extended to incomplete information and externalities, it remains grounded on very heroic assumptions. Agents are endowed with a very strong rationality, equilibrium is stated without a concrete process to achieve it ...
Orléan, André +2 more
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Classical microeconomics is intended to explain how a price system is able to coordinate the economic agents. But even if it can be extended to incomplete information and externalities, it remains grounded on very heroic assumptions. Agents are endowed with a very strong rationality, equilibrium is stated without a concrete process to achieve it ...
Orléan, André +2 more
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Microeconomics and Macroeconomics
1996It is customary when studying many subjects to divide them into different sections. This makes good sense. It is daunting to feel that the only way to tackle a particular subject is to have to take on the whole of it at once. It makes study far more accessible and easier to organise if there are subdivisions within a subject that allow it to be tackled
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